ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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student loans
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dining out
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entertainment
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gas
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Detailed explanation-1: -All federal student loans have fixed interest rates. It’s typically best to max out federal student loans before turning to private student loans because borrowers with federal loans qualify for income-driven repayment plans and loan forgiveness programs-borrowers with private loans won’t.
Detailed explanation-2: -The interest rates will be floating for entire period of loan.
Detailed explanation-3: -Student loans may be a liability on the consumer balance sheet, but they constitute an asset for Uncle Sam. Just how big? It’s about 38.4 percent of the total Federal assets.
Detailed explanation-4: -The scheme envisages loans up to Rs. 7.5 lakh for studies in India and up to Rs. 15 lakh for studies abroad. For loans up to Rs. 4 lakh no collateral or margin is required and the interest rate is not to exceed the Prime Lending Rates (PLR).